Arabian Cement 3Q profit triples

Arabian Cement Co saw its net profits after zakat and tax surge to 320.8 per cent to SAR60.6m (US$16.2m) in 3Q19, compared to SAR14.4m in the 3Q18, reports Mubasher.

Revenues of the Saudi cement company increased 64.1 per cent to SAR193.5m in the three-month period ended September. In 3M18 revenues reached SAR117.9m.

In the first nine months of 2019, Arabian Cement achieved net profits of SAR135.1m, a considerable improvement when compared with losses of SAR42.5m in the year-ago period. During this period revenues advanced 28.6 per cent YoY to SAR547.3m when compared with revenues of SAR425.4m in the 9M18.